As USD is getting strength due to the US economic reports, JPY is being empowered by the Japanese Manufacturing PMI. The support rests at 113.480 with resistance at 114.560 which the weekly pivot point at 112.440 is located in between the lines. The EMA of 10 is moving horizontally but it is located above the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. Long positions are recommended targeting 115.00 area.
USDJPY analysis for 02.12.2016
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